ANTI-BRIBERY AND ANTI-CORRUPTION

Building an Effective Anti-Bribery and Anti-Corruption (ABAC) Program

In today’s interconnected world, the expansion of global vendor ecosystems significantly heightens the risk of exposure to bribery, corruption, and money laundering. These are not just risks; they are significant threats with severe regulatory consequences, impacting organizations even at third-party levels. At ProcessUnity, we specialize in Cyber and Third-Party Risk Solutions to equip your organization with the tools needed to combat these challenges effectively.

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Cyber and Third-Party Risk Solutions
 

This guide will explore cost of third-party bribery and corruption, the basis of ABAC programs around the world, the different laws present in major jurisdictions, and best practices for running an ABAC program.

Why Read This Guide?

The economic repercussions are staggering—with PWC reporting that 24% of global organizations have fallen victim to corruption offenses. Moreover, the World Economic Forum highlights the enormity of the issue, estimating that the annual global cost of corruption reaches up to $3.6 trillion through bribes and stolen funds. With nearly 90% of Foreign Corrupt Practices Act (FCPA) cases involving third-party intermediaries (Stanford Law School), the necessity for a dedicated anti-bribery and anti-corruption program becomes undeniable.

This guide will cover:

  • Penalties for FCPA and UKBA violations
  • Why companies adopt ABAC programs
  • ABAC laws and jurisdictions
  • Best practices for running an ABAC program
  • How technology can optimize ABAC practices

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